Wednesday, October 5, 2022

FIFA Launches its Dedicated NFT Platform in Partnership With Algorand

With the FIFA World Cup 2022 set to take center stage in November, the World football governing body FIFA has announced the launch of its dedicated NFT platform.

In a recent blog post, FIFA announced the new NFT platform dubbed FIFA+ Collect ahead of the start of the Mundial in Qatar.

The new platform will feature significant in-game moments with a blend of arts and imagery and presented as NFTs.

Notably, the platform will be accessible to all football fans as it is designed to be affordable and inclusive.

According to the blog post, the platform will afford fans worldwide a chance to engage with their favorite players.

Therefore, football fans can now access FIFA collectibles via FIFA+ Collect. The platform that has now democratized owning a part of the FIFA World Cup.

After its launch, FIFA+Collect will be accessible from any web-enabled device. It will also be available initially in English, Spanish, and French with plans to include other languages shortly.

The NFT collectibles platform is built on the Algorand blockchain in continuance of FIFA’s existing partnership with the blockchain.

FIFA+ Collect, FIFA’s first foray into the NFT sector will launch in the coming days.

FIFA’s crypto firms partnership

Algorand had earlier partnered with the world football’s governing body in May for the men’s and women’s world cup. 

The partnership made it the authorized blockchain network for the Mundial in Qatar in November. It is also the official blockchain for next year’s women’s world cup.

Before its partnership with Algorand, the football governing body signed a partnership deal with Crypto.com, the fastest-growing exchange. With the partnership, Crypto.com will be the official exchange for the upcoming FIFA World Cup 2022. 

The deal will see the exchange enjoy massive brand exposure due to the cult following of the competition.

Meanwhile, the Singaporean exchange recently abandoned its deal with the UEFA Champions League. The five-year deal worth around $495 million was canceled for concerns bothering on regulations in Europe.

While sports sponsorship deals were once the rave of the moment for the cryptosphere, the trend has since slowed down. 

This is due to the recent market downturn and regulatory concerns in some cases.

Joyce Onose
A Blockchain enthusiast and growing writer in the space with an understanding of the importance in creating quality content for readers in the industry. Also, keen on using her skills in improving Blockchain journalism.

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